Cities seeing urban renewal and hot job markets are also undergoing a shift in the home ownership sector.

Real estate site Zillow released a study that shows condominiums are outpacing single-family homes in appreciation in several cities across the country.

"Condo values were hit harder than single-family homes during the recession, and lagged in the recovery, but now they are appreciating more quickly than houses," a release from Zillow states. "Condos are appreciating at 5.1 percent annually, outpacing the 3.7 percent rate of single-family homes in the U.S."

Now, in a post-recession period with a real estate market that's bounced back, we're seeing condos coming up strong. Zillow's look at September data showed that condos are "appreciating faster than single-family homes in nearly two-thirds of the top 35 most populated housing markets." Condo values exceeded single-family home values the most in places like Dallas, Houston and Boston.

"The housing bust hit condo values hard, and over the past few years, buying a condo wasn't always considered a good investment compared to a single family home," said Zillow Chief Economist Dr. Svenja Gudell. "But that's changing, and condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle. However, as younger buyers compete for homes in urban neighborhoods, it's important to consider some of the additional costs of condo life, especially homeowner association fees, when weighing options."

Get a glimpse at where condo values are eclipsing single-family homes in the gallery above.

Home prices are based on the Zillow Home Value Index (ZHVI), which is the median estimated home value for "a given geographic area on a given day and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted." The year-over-year changes are reflected for both condo and single-family homes.

See the gallery above for average price comparisons in cities including Seattle, San Antonio, San Francisco, Dallas, Houston, Austin and other large markets from across the country.